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REIQ Journal : December January 2009
INDUSTRY RESEARCH 39 GOLD COAST The Gold Coast is experiencing a varied market at the moment.Mid-range properties are generally being snapped up very quickly but agents have reported that some high-end properties are sitting on the market for longer periods of time. New rental enquiries remain high, but applications are low to moderate at best. Agents report a recent lift in demand, which is in keeping with regular seasonal cycles. SUNSHINE COAST The Sunshine Coast region has also experienced an unpredictable market in recent times, with some areas much stronger than others. Demand has slowed in recent months but is expected to pick up over the summer months due to the seasonal trend. Vacancy rates have remained steady at 3.1 per cent, as have median rents with little or no change for three-bedroom houses and two-bedroom units over the six months to the end of September 2008. BUNDABERG The rental market in the Bundaberg region is steady, with increased demand forecast for the forthcoming summer months. Current vacancy rates are sitting at 6.5 per cent, which is largely due to a significant amount of new stock and the usual seasonal decline in the post-winter months.Median rents for three bedroom houses in Bundaberg have eased while two bedroom units have recorded an increase of $10 over the three months to September. ROCKHAMPTON Agents in Rockhampton have reported that rental demand is slowing. However this has been offset by a low supply of rental properties and resulted in a vacancy rate that remains at a low 2.6 per cent. Rental prices have remained steady over the three months to September 2008, at $280 per week for three-bedroom houses and $200 per week for two bedroom units. MACKAY Mackay is another region where a shortage of rental properties has resulted in low vacancy rates. Despite a recorded ease in the vacancy rate to 2.1 per cent over the three months to September, local agents report that new rental listings are attracting up to 10 applicants each. REIQ Journal December 2008/January 2009